Sunshine Act Meeting, 55916-55917 [2018-24617]

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55916
Federal Register / Vol. 83, No. 217 / Thursday, November 8, 2018 / Notices
preceding the year in which the sale
occurred (the amount of the bond or
escrow is doubled if the plan is in
reorganization in the year in which the
sale occurred); and
(C) the contract of sale provides that
if the purchaser withdraws from the
plan within the first five plan years
beginning after the sale and fails to pay
any of its liability to the plan, the seller
shall be secondarily liable for the
liability it (the seller) would have had
but for section 4204.
The bond or escrow described above
would be paid to the plan if the
purchaser withdraws from the plan or
fails to make any required contributions
to the plan within the first five plan
years beginning after the sale.
Additionally, section 4204(b)(1)
provides that if a sale of assets is
covered by section 4204, the purchaser
assumes by operation of law the
contribution record of the seller for the
plan year in which the sale occurred
and the preceding four plan years.
Section 4204(c) of ERISA authorizes
the Pension Benefit Guaranty
Corporation (‘‘PBGC’’) to grant
individual or class variances or
exemptions from the purchaser’s bond/
escrow requirement of section
4204(a)(1)(B) when warranted. The
legislative history of section 4204
indicates a Congressional intent that the
sales rules be administered in a manner
that assures protection of the plan with
the least practicable intrusion into
normal business transactions. Senate
Committee on Labor and Human
Resources, 96th Cong., 2nd Sess., S.
1076, The Multiemployer Pension Plan
Amendments Act of 1980: Summary
and Analysis of Considerations 16
(Comm. Print, April 1980); 128 Cong.
Rec. S10117 (July 29, 1980). The
granting of an exemption or variance
from the bond/escrow requirement does
not constitute a finding by PBGC that a
particular transaction satisfies the other
requirements of section 4204(a)(1).
Under PBGC’s regulation on variances
for sales of assets (29 CFR part 4204), a
request for a variance or waiver of the
bond/escrow requirement under any of
the tests established in the regulation
(§§ 4204.12 & 4204.13) is to be made to
the plan in question. PBGC will
consider waiver requests only when the
request is not based on satisfaction of
one of the three regulatory tests or when
the parties assert that the financial
information necessary to show
satisfaction of one of the regulatory tests
is privileged or confidential financial
information within the meaning of 5
U.S.C. 552(b)(4) of the Freedom of
Information Act.
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Under § 4204.22 of the regulation,
PBGC shall approve a request for a
variance or exemption if it determines
that approval of the request is
warranted, in that it: (1) Would more
effectively or equitably carry out the
purposes of Title IV of the Act; and (2)
would not significantly increase the risk
of financial loss to the plan.
Section 4204(c) of ERISA and
§ 4204.22(b) of the regulation require
PBGC to publish a notice of the
pendency of a request for a variance or
exemption in the Federal Register, and
to provide interested parties with an
opportunity to comment on the
proposed variance or exemption. PBGC
received no comments on the request for
exemption.
The Decision
On June 6, 2018, PBGC published a
notice of the pendency of a request by
Marlins Holdings LLC (the ‘‘Purchaser’’)
for an exemption from the bond/escrow
requirement of section 4204(a)(1)(B)
with respect to its purchase of the
Miami Marlins Major League Baseball
franchise from Miami Marlins, L.P., LLC
(the ‘‘Seller’’). According to the request,
the Purchaser represents among other
things that:
1. The Seller was obligated to
contribute to the Major League Baseball
Players Benefit Plan (the ‘‘Plan’’) for
certain employees of the sold
operations.
2. The Purchaser has agreed to assume
the obligation to contribute to the Plan
for substantially the same number of
contribution base units as the Seller.
3. The Seller has agreed to be
secondarily liable for any withdrawal
liability it would have had with respect
to the sold operations (if not for section
4204) should the Purchaser withdraw
from the Plan and fail to pay its
withdrawal liability.
4. The estimated amount of the
withdrawal liability of the Seller with
respect to the operations subject to the
sale is $19,169,342.
5. The amount of the bond/escrow
established under section 4204(a)(1)(B)
is $4,781,000.
6. Major League Baseball has a unique
structure in which the Plan is funded
from the Major League Central Fund
(the ‘‘Central Fund’’), maintained and
administered by the Commissioner of
Baseball. Under this structure,
contributions to the Plan for all
participating employers are paid by the
Office of the Commissioner of Baseball
from the Central Fund on behalf of each
participating employer in satisfaction of
the employer’s pension liability under
the Plan’s funding agreement. The
monies in the Central Fund are derived
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directly from common revenues related
to the All-Star Game, post-season games,
certain media rights and other common
revenues (collectively, the ‘‘Revenues’’).
7. In support of the exemption
request, the requester asserts that, ‘‘the
Plan is funded from the Central Fund
that is maintained and administered by
the Commissioner of Baseball.’’ Major
League Baseball pays contributions
directly to the Plan from the Central
Fund. Further, the requester asserts that,
‘‘the Plan enjoys a substantial degree of
security with respect to contributions on
behalf of the Clubs. A change in
ownership of a Club does not affect the
obligation of the Central Fund to fund
the Plan. As such, approval of this
exemption request would not increase
the risk of financial loss to the Plan.’’
8. A complete copy of the request was
sent to the Plan and to the Major League
Baseball Players Association by certified
mail, return receipt requested.
Based on the facts of this case and the
representations and statements made in
connection with the request for an
exemption, PBGC has determined that
an exemption from the bond/escrow
requirement is warranted, in that it
would more effectively carry out the
purposes of title IV of ERISA and would
not significantly increase the risk of
financial loss to the Plan. Therefore,
PBGC hereby grants the request for an
exemption for the bond/escrow
requirement. The granting of an
exemption or variance from the bond/
escrow requirement of section
4204(a)(1)(B) does not constitute a
finding by PBGC that the transaction
satisfies the other requirements of
section 4204(a)(1). The determination of
whether the transaction satisfies such
other requirements is a determination to
be made by the Plan sponsor.
Issued in Washington, DC.
William Reeder,
Director, Pension Benefit Guaranty
Corporation.
[FR Doc. 2018–24406 Filed 11–7–18; 8:45 am]
BILLING CODE 7709–02–P
POSTAL REGULATORY COMMISSION
Sunshine Act Meeting
TIME AND DATE:
December 17, 2018, at 11
a.m.
Commission hearing room, 901
New York Avenue NW, Suite 200,
Washington, DC 20268–0001.
STATUS: The Postal Regulatory
Commission will hold a public meeting
to discuss the agenda items outlined
below. Part of the meeting will be open
to the public as well as live audio cast
PLACE:
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Federal Register / Vol. 83, No. 217 / Thursday, November 8, 2018 / Notices
via telephone, and the dial in number
will be posted on the Commission’s
website at http://www.prc.gov. Part of
the meeting will be closed.
MATTERS TO BE CONSIDERED: The agenda
for the Commission’s December 17,
2018 meeting includes the items
identified below.
Portions Open to the Public
1. Report from the Office of Public
Affairs and Government Relations.
2. Report from the Office of General
Counsel.
3. Report from the Office of
Accountability and Compliance.
4. Report from the Office of the
Secretary and Administration.
5. Commissioners Vote to designate the
Vice-Chairman of the Commission
for calendar year 2019 pursuant to
39 U.S.C. 502(e).
Portions Closed to the Public
6. Discussion of pending litigation.
CONTACT PERSON FOR MORE INFORMATION:
David A. Trissell, General Counsel,
Postal Regulatory Commission, 901 New
York Avenue NW, Suite 200,
Washington, DC 20268–0001, at 202–
789–6820 (for agenda-related inquiries)
and Stacy L. Ruble, Secretary of the
Commission, at 202–789–6800 or
stacy.ruble@prc.gov (for inquiries
related to meeting location, changes in
date or time of the meeting, access for
handicapped or disabled persons, the
live-webcast, or similar matters). The
Commission’s website may also provide
information on changes in the date or
time of the meeting.
By direction of the Commission.
Stacy L. Ruble,
Secretary.
[FR Doc. 2018–24617 Filed 11–6–18; 4:15 pm]
BILLING CODE 7710–FW–P
POSTAL REGULATORY COMMISSION
[Docket No. CP2015–123]
New Postal Product
Postal Regulatory Commission.
ACTION: Notice.
AGENCY:
The Commission is noticing a
recent Postal Service filing for the
Commission’s consideration concerning
a negotiated service agreement. This
notice informs the public of the filing,
invites public comment, and takes other
administrative steps.
DATES: Comments are due: November
13, 2018.
ADDRESSES: Submit comments
electronically via the Commission’s
Filing Online system at http://
daltland on DSKBBV9HB2PROD with NOTICES
SUMMARY:
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www.prc.gov. Those who cannot submit
comments electronically should contact
the person identified in the FOR FURTHER
INFORMATION CONTACT section by
telephone for advice on filing
alternatives.
FOR FURTHER INFORMATION CONTACT:
David A. Trissell, General Counsel, at
202–789–6820.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Introduction
II. Docketed Proceeding(s)
I. Introduction
The Commission gives notice that the
Postal Service filed request(s) for the
Commission to consider matters related
to negotiated service agreement(s). The
request(s) may propose the addition or
removal of a negotiated service
agreement from the market dominant or
the competitive product list, or the
modification of an existing product
currently appearing on the market
dominant or the competitive product
list.
Section II identifies the docket
number(s) associated with each Postal
Service request, the title of each Postal
Service request, the request’s acceptance
date, and the authority cited by the
Postal Service for each request. For each
request, the Commission appoints an
officer of the Commission to represent
the interests of the general public in the
proceeding, pursuant to 39 U.S.C. 505
(Public Representative). Section II also
establishes comment deadline(s)
pertaining to each request.
The public portions of the Postal
Service’s request(s) can be accessed via
the Commission’s website (http://
www.prc.gov). Non-public portions of
the Postal Service’s request(s), if any,
can be accessed through compliance
with the requirements of 39 CFR
3007.301.1
The Commission invites comments on
whether the Postal Service’s request(s)
in the captioned docket(s) are consistent
with the policies of title 39. For
request(s) that the Postal Service states
concern market dominant product(s),
applicable statutory and regulatory
requirements include 39 U.S.C. 3622, 39
U.S.C. 3642, 39 CFR part 3010, and 39
CFR part 3020, subpart B. For request(s)
that the Postal Service states concern
competitive product(s), applicable
statutory and regulatory requirements
include 39 U.S.C. 3632, 39 U.S.C. 3633,
39 U.S.C. 3642, 39 CFR part 3015, and
1 See Docket No. RM2018–3, Order Adopting
Final Rules Relating to Non-Public Information,
June 27, 2018, Attachment A at 19–22 (Order No.
4679).
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55917
39 CFR part 3020, subpart B. Comment
deadline(s) for each request appear in
section II.
II. Docketed Proceeding(s)
1. Docket No(s).: CP2015–123; Filing
Title: USPS Notice of Amendment to
Priority Mail Express & Priority Mail
Contract 20, filed Under Seal; Filing
Acceptance Date: November 2, 2018,
2018; Filing Authority: 39 U.S.C. 3642,
39 CFR 3020.30 et seq., and 39 CFR
3015.5; Public Representative:
Christopher C. Mohr; Comments Due:
November 13, 2018.
This Notice will be published in the
Federal Register.
Stacy L. Ruble,
Secretary.
[FR Doc. 2018–24444 Filed 11–7–18; 8:45 am]
BILLING CODE 7710–FW–P
POSTAL REGULATORY COMMISSION
[Docket No. CP2015–61; Order No. 4870]
New Postal Products
Postal Regulatory Commission.
Notice.
AGENCY:
ACTION:
The Commission is revising
the comment due date.
DATES: Comments are due: November 5,
2018.
ADDRESSES: Submit comments
electronically via the Commission’s
Filing Online system at http://
www.prc.gov. Those who cannot submit
comments electronically should contact
the person identified in the FOR FURTHER
INFORMATION CONTACT section by
telephone for advice on filing
alternatives.
SUMMARY:
FOR FURTHER INFORMATION CONTACT:
David A. Trissell, General Counsel, at
202–789–6820.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Introduction
In Order No. 2480, the Commission
approved the Priority Mail Express &
Priority Mail Contract 18 negotiated
service agreement (Existing
Agreement).1 On October 29, 2018, the
Postal Service filed notice that it has
agreed to the Amendment to the
Existing Agreement.2 On October 30,
1 See Docket Nos. MC2015–49 and CP2015–61,
Order Adding Priority Mail Express & Priority Mail
Contract 18 to the Competitive Product List, May
12, 2015 (Order No. 2480).
2 USPS Notice of Amendment to Priority Mail
Express & Priority Mail Contract 18, Filed Under
Seal, October 29, 2018 (Notice). The amendment is
an attachment to the Notice (Amendment).
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Agencies

[Federal Register Volume 83, Number 217 (Thursday, November 8, 2018)]
[Notices]
[Pages 55916-55917]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-24617]
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POSTAL REGULATORY COMMISSION
Sunshine Act Meeting
TIME AND DATE: December 17, 2018, at 11 a.m.
PLACE: Commission hearing room, 901 New York Avenue NW, Suite 200,
Washington, DC 20268-0001.
STATUS: The Postal Regulatory Commission will hold a public meeting to
discuss the agenda items outlined below. Part of the meeting will be
open to the public as well as live audio cast
[[Page 55917]]
via telephone, and the dial in number will be posted on the
Commission's website at http://www.prc.gov. Part of the meeting will be
closed.
MATTERS TO BE CONSIDERED: The agenda for the Commission's December 17,
2018 meeting includes the items identified below.
Portions Open to the Public
1. Report from the Office of Public Affairs and Government Relations.
2. Report from the Office of General Counsel.
3. Report from the Office of Accountability and Compliance.
4. Report from the Office of the Secretary and Administration.
5. Commissioners Vote to designate the Vice-Chairman of the Commission
for calendar year 2019 pursuant to 39 U.S.C. 502(e).
Portions Closed to the Public
6. Discussion of pending litigation.
CONTACT PERSON FOR MORE INFORMATION: David A. Trissell, General
Counsel, Postal Regulatory Commission, 901 New York Avenue NW, Suite
200, Washington, DC 20268-0001, at 202-789-6820 (for agenda-related
inquiries) and Stacy L. Ruble, Secretary of the Commission, at 202-789-
6800 or [email protected] (for inquiries related to meeting location,
changes in date or time of the meeting, access for handicapped or
disabled persons, the live-webcast, or similar matters). The
Commission's website may also provide information on changes in the
date or time of the meeting.
By direction of the Commission.
Stacy L. Ruble,
Secretary.
[FR Doc. 2018-24617 Filed 11-6-18; 4:15 pm]
BILLING CODE 7710-FW-P